Oregon Statutes 70.605 – Application to partnerships existing prior to July 1, 1986
(1) Any limited partnership formed on or after July 1, 1986, shall be governed by this chapter.
Terms Used In Oregon Statutes 70.605
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Certificate of limited partnership: means the certificate referred to in ORS § 70. See Oregon Statutes 70.005
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) Any limited partnership formed before July 1, 1986, shall be governed by this chapter except as follows:
(a) The limited partnership shall not be required to change its name to comply with ORS § 70.010 (1)(a) unless the limited partnership changes its name after July 1, 1986.
(b) The limited partnership need not file with the Secretary of State a certificate of amendment that would cause its certificate of limited partnership to comply with this chapter until the occurrence of an event that, under this chapter, requires the filing of a certificate of amendment. If any limited partnership formed before July 1, 1986, fails to file such a certificate of amendment required under this chapter, the limited partnership nevertheless shall be governed by this chapter. [Formerly 70.455]